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Market may open higher

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Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 51 points at the opening bell.

Overseas, Asian stocks are trading higher on Monday as investors shrugged off concerns over the rising number of coronavirus cases worldwide.

In US, stocks ended higher Friday, with support attributed in part to optimism over a coronavirus treatment as investors attempt to gauge the threat to the economic outlook from a rise in COVID-19 cases. The Nasdaq Composite Index sets another record closing high.

Stocks shook off premarket weakness after Gilead said a new analysis of previously disclosed clinical trial data found its experimental therapy remdesivir can reduce the risk of mortality in COVID-19 patients.

Back home, domestic shares ended with modest losses on Friday, dragged by banks and financials stocks. Strength in index pivotals Reliance Industries and TCS supported the indices. The barometer S&P BSE Sensex lost 143.36 points or 0.39% at 36,594.33. The Nifty 50 index fell 45.40 points or 0.42% at 10,768.05.

Foreign portfolio investors (FPIs) sold shares worth Rs 1,031 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 431.21 crore in the Indian equity market on 10 July 2020, provisional data showed.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, July 13 2020. 08:06 IST